I'm not sure, like Dregus2 said there are constantly ups and downs, and right now it's just the traders getting cold feet because of all the debt crisis. But I believe the Stock Market is a one-way ticket to hell, I hardly believe the system will go on for much time. Not speaking of years now, maybe a few dozen years, but eventually there will be no way out. Anyway I hate the stock market with their playing around with currencies... I'm just not economist enough to understand why we really need it or how we could replace it.
A Tobin tax, suggested by Nobel Laureate economist James Tobin, was originally defined as a tax on all spot conversions of one currency into another. The tax is intended to put a penalty on short-term financial round-trip excursions into another currency.
back to topic: Yesterday I read that the stock market probably isn't going to crash. But if the USA and Europe can't solve their debt problems the market could crash in 2012.
now it depends of people stop spending there money. if they do then it will drop more down. if people just keeps spending like they usualy do then it keeps up. but since usa has to cut on their spendings it's very possible that it will drop.
So, three days ago it was down 500, then down 600, then up 400, now down 500 again. It's lost close to 15% in the last 15 days. It's at 10,700. We. Are. All. Doomed. Jk, but it doesn't look like things are going too well. 400 point jumps are very uncommon, stocks rise gradually but they fall like hell. It'll take time.
